Nigeria’s industrial and financial power blocs are tightening ranks, as Abdul Samad Rabiu and Tony Elumelu moved to reinforce a long-standing alliance centered on capital deployment, industrial expansion, and economic scale.
The Chairman of BUA Group hosted the leadership of United Bank for Africa in Lagos, in a high-level engagement that signals a renewed push to deepen financing for large-scale manufacturing and real-sector growth.
Far from a routine corporate visit, the meeting underscored a strategic convergence between finance and industry—two pillars increasingly shaping Nigeria’s economic trajectory.
At the core of discussions was the expansion of financing frameworks to support domestic production, infrastructure development, and export-oriented industries—critical sectors as Nigeria seeks to drive self-sufficiency and global competitiveness.
Rabiu, reflecting on a relationship spanning nearly three decades, emphasized the importance of shared vision over transactional engagement.
“Enduring partnerships are not built on transactions, but on conviction. What we have built with UBA and the Nigerian financial industry is a shared understanding of where Nigeria is going and what it will take to get there,” he said.
Elumelu, a leading voice in Africa’s private sector-led development model, positioned the partnership within a broader continental growth agenda.
“Institutions like BUA Group demonstrate what is possible when long-term capital meets disciplined execution. Our role is to continue enabling that scale,” he noted.
BUA FOODS DELIVERS RECORD PERFORMANCE
In a parallel show of industrial strength, BUA Foods posted a standout financial performance for the 2025 fiscal year, reinforcing its position as a dominant force in Nigeria’s food manufacturing space.
The company reported:
Revenue: N1.77 trillion (up 16% from N1.53 trillion in 2024)
Gross Profit: N737.26 billion (from N540.82 billion)
Profit After Tax: N518.4 billion (up 95% year-on-year)
Earnings Per Share: N28.80
The growth was driven by sustained demand across key segments including sugar, flour, pasta, and rice, alongside aggressive capacity expansion.
In a strong signal to investors, the Board proposed a dividend of N28 per share, marking a 115% increase from the previous year, with a total payout of N504 billion pending shareholder approval.
Total assets rose by 27% to N1.39 trillion, reflecting continued investment across the company’s operations and supply chain.
Rabiu described the results as evidence of disciplined scaling and long-term positioning.
“We are building capacity, deepening local production, and delivering consistent value to shareholders, all while positioning for the future.”
Managing Director Ayodele Abioye added that the company remains focused on expanding capacity, strengthening market share, and optimising its end-to-end supply chain.
A BROADER ECONOMIC SIGNAL
Taken together, the strengthened BUA–UBA alliance and BUA Foods’ record-breaking results point to a deeper shift within Nigeria’s economy—one increasingly driven by indigenous institutions with the capacity to combine capital, execution, and long-term vision.
Beyond headline numbers, this moment reflects a consolidation of industrial leadership, where strategic partnerships—not just policy—are becoming central to unlocking Nigeria’s next phase of growth
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